Truvestments Capital LLC Purchases 1,652 Shares of Starbucks Co. (NASDAQ:SBUX)

Truvestments Capital LLC lifted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 17.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,036 shares of the coffee company’s stock after buying an additional 1,652 shares during the quarter. Truvestments Capital LLC’s holdings in Starbucks were worth $1,076,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd grew its holdings in Starbucks by 60.4% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 56,952 shares of the coffee company’s stock worth $5,555,000 after acquiring an additional 21,442 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Starbucks by 2.9% during the third quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock valued at $1,146,744,000 after buying an additional 327,734 shares during the period. Daiwa Securities Group Inc. raised its stake in Starbucks by 14.4% in the third quarter. Daiwa Securities Group Inc. now owns 225,690 shares of the coffee company’s stock worth $22,003,000 after buying an additional 28,483 shares in the last quarter. Summit Trail Advisors LLC lifted its holdings in Starbucks by 3.0% during the third quarter. Summit Trail Advisors LLC now owns 17,170 shares of the coffee company’s stock worth $1,674,000 after buying an additional 498 shares during the period. Finally, SevenBridge Financial Group LLC boosted its position in Starbucks by 15.5% during the 3rd quarter. SevenBridge Financial Group LLC now owns 3,639 shares of the coffee company’s stock valued at $365,000 after acquiring an additional 488 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Activity

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the transaction, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The trade was a 1.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Starbucks Stock Up 0.2 %

Starbucks stock opened at $102.75 on Monday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.09. The business’s 50-day moving average price is $97.11 and its 200 day moving average price is $87.19. The firm has a market cap of $116.50 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 3.00 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. The firm had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the firm earned $1.06 EPS. Equities analysts expect that Starbucks Co. will post 3.12 EPS for the current year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.37%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s dividend payout ratio is presently 73.72%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SBUX shares. Citigroup upped their price objective on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and raised their price target for the company from $92.00 to $115.00 in a report on Thursday, September 26th. Redburn Atlantic reiterated a “sell” rating and set a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Finally, Stifel Nicolaus raised their target price on shares of Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $102.81.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.